Wednesday, February 07, 2007

Here we go a-budgeting

I’m going to forgo the fact that a group of republicans have stalled the debate on an Iraq troop increase or the “shocking” revelation that the Iraq vote could have a deep impact on the 2008 Presidential election (that’s some crack journalistic work there guys… I’m sure that tidbit caught everyone by surprise… as I’ve always say; it’s hard to express sarcasm in the written word?) or the fact that Katherine Harris just refuses to accept the truth that her political career is over and instead focus on something else today; the budget.

“President” Bush submitted his budget to the Democratically-controlled Congress Monday that has four substantial volumes and will now kick off what I’m sure will be months and months (and months) of debate.

One thing to keep in mind is that the Democrats have already made clear the fact that they have considerably different views on spending and taxes

Bush’s budget comes in at a whopping $2.90 trillion (yes, you saw that right; trillion with a ‘t’) that essentially screws the middle-class with their collective pants on…

Consider (hat tip to Think Progress):

  • $77 billion in funding cuts for Medicare and Medicaid over the next five years - $280 billion over the next 10 (This won’t come back to bite us on the ass I’m sure)
  • $223 million in funding cuts) to the Children’s Health Insurance Program which represents a 4% decrease from this year’s levels (Damn kids should get jobs and pay for their own insurance)
  • $4.9 billion, cut in education, training, employment and social services grants (cause none of these things is imporant when our econmy is oh-so-good…)
  • $100 million cut for Head Start, which provides child development services to economically disadvantaged children and families (Nice…)
  • $2.4 billion cut in community and regional development grants that often provide funding for low- and middle-income communities (because if a community can’t sustain itself, they shouldn’t be allowed to exist… right?)
  • $400 million cut in the Low-Income Home Energy Assistance Program that provides $2.2 billion to help people pay their heating bills (not really needed since heating a home is oh-so-cheap anymore…)
  • $172 million cut in funding for housing for low-income seniors (They don’t need any help since they’ll have social secuirty to rely on… right?)

I apologize for my sarcasm… it’s just that this is getting ridiculous…

Bush's spending plan would make his first-term tax cuts permanent, at a cost of $1.6 trillion over 10 years

Bush maintains that he had made the right choices to keep the nation secure from terrorism and also to keep the economy growing (growing?)

Don’t worry though, despite Bush essentially saying ‘screw you’ to the Middle class, he’s doing the exact opposite regarding the wealthy as, according to Tax Policy Center notes, “People with incomes of more than $1 million would get tax cuts averaging $162,000 a year in perpetuity.”

Originally, the White House had projected a deficit of $244 billion.

Democrats, however, challenged those projections, contending that Bush only achieves a surplus by leaving out the billions of dollars Congress is expected to spend to keep the alternative minimum tax from ensnaring millions of middle-class taxpayers.

Said the “President” about his budget; “My formula for a balanced budget reflects the priorities of our country at this moment in its history: protecting the homeland and fighting terrorism, keeping the economy strong with low taxes and keeping spending under control while making federal programs more effective.”

I prefer Senate Budget Committee Chairman Kent Conrad (D-ND)’s take; "The president's budget is filled with debt and deception, disconnected from reality and continues to move America in the wrong direction.” Couldn’t have said it any better myself Senator Conrad…. Thank you.

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